This is one of the most useful new features of Flash CS3. It enables you to convert a Motion Tween animation into ActionScript 3.0. This means that you can create a reusable script that can be applied to any object in Flash. It also means that you can open up existing Flash files and copy the animation into a new file and apply it to new objects in a few clicks.

You can capture the motion of the following properties of a Motion Tween animation:

Blend Mode

Cache As Bitmap Setting

Color

Custom Easing

Filters

Frame Labels

Motion Guides

Orientation To Path

Position

Rotation

Scale

Scale

Skew

Transformation Point

Cross Ref: In you are not familiar with creating Motion Tweens see the tutorial: Motion Tween